Jump to content

Customers In The Adult Entertainment Industry Get Their Accounts Closed at Wells Fargo


Burgerwars
 Share

Recommended Posts


I wish it was funny, but I find this behavior on the behalf of Wells Fargo to be disturbing. Sure, it's legal. But that doesn't make it the right thing to do to your customers. 

 

Wells Fargo is on m s*it sit at the moment after I recently opened a business account with them. I went to setup up Direct Pay to send ACH payments and they locked my account before I even sent anything. I just added one payee to the list. I then called and they said they needed 10 business days to review my account before they could unlock it. Now, it has been nearly 3 weeks. They never reached out and it is not fixed. I am going to call them again today and see what they say, but they have completely lost my trust.  After them not fixing it for 7 days, I went ahead and withdrew almost all my money, closed my business account, and just moved my business to Chase for this particular account. 

 

Meanwhile, I have had absolutely no issues with my Chase business account. I have sent several ACH payments and I even used their credit card processing. All of it worked fine, as it should. I think the customer service issues continue to persist at Wells Fargo and I am not sure they are going to be able to fix the situation anytime soon.  The ACH payments I tried to send over there were to myself, as an owner of the business. That ain't suspicious, darling. I may keep my remaining personal checking open over there, because I am about to get a bonus for it, but I don't think I want to do anything else with them. I had planned on getting a credit card from them in about a year once my credit is squeaky clean, but now, I don't think I need their drama in my life.

Link to comment
Share on other sites

6 hours ago, RehabbingANDBlabbing said:

I wish it was funny, but I find this behavior on the behalf of Wells Fargo to be disturbing. Sure, it's legal. But that doesn't make it the right thing to do to your customers. 

 

Wells Fargo is on m s*it sit at the moment after I recently opened a business account with them. I went to setup up Direct Pay to send ACH payments and they locked my account before I even sent anything. I just added one payee to the list. I then called and they said they needed 10 business days to review my account before they could unlock it. Now, it has been nearly 3 weeks. They never reached out and it is not fixed. I am going to call them again today and see what they say, but they have completely lost my trust.  After them not fixing it for 7 days, I went ahead and withdrew almost all my money, closed my business account, and just moved my business to Chase for this particular account. 

 

Meanwhile, I have had absolutely no issues with my Chase business account. I have sent several ACH payments and I even used their credit card processing. All of it worked fine, as it should. I think the customer service issues continue to persist at Wells Fargo and I am not sure they are going to be able to fix the situation anytime soon.  The ACH payments I tried to send over there were to myself, as an owner of the business. That ain't suspicious, darling. I may keep my remaining personal checking open over there, because I am about to get a bonus for it, but I don't think I want to do anything else with them. I had planned on getting a credit card from them in about a year once my credit is squeaky clean, but now, I don't think I need their drama in my life.

 

Chase has been known for closing accounts for "reputational risks" even though their reputation is questionable. There's a post somewhere here from someone having their Chase accounts closed because they had a criminal conviction from a long time ago. You just never know when a bank may show you the door. For this reason, and other reasons, I tell people you should have bank accounts at several financial institutions. If one tells you without warning that your accounts are being closed, at least you have back-ups.  

Link to comment
Share on other sites

The adult entertainment industry is certainly not everyone's cup of soup, nor is the firearms hobby, nor religions; but they are all legal industries in the US and some banks should support them with transactional services. 

 

Link to comment
Share on other sites

8 hours ago, Burgerwars said:

 

Chase has been known for closing accounts for "reputational risks" even though their reputation is questionable. There's a post somewhere here from someone having their Chase accounts closed because they had a criminal conviction from a long time ago. You just never know when a bank may show you the door. For this reason, and other reasons, I tell people you should have bank accounts at several financial institutions. If one tells you without warning that your accounts are being closed, at least you have back-ups.  

I agree 100 percent about back-up banks. I have accounts at several major banks, and some CUs. Gives me peace of mind. Stranger things have happened than being shown the door for no apparent, obvious reason, it seems.

Link to comment
Share on other sites

6 hours ago, Jeffster said:

I agree 100 percent about back-up banks. I have accounts at several major banks, and some CUs. Gives me peace of mind. Stranger things have happened than being shown the door for no apparent, obvious reason, it seems.

I completely agree. I keep accounts at Chase, Bank of America, US Bank, several CUs, and a couple of online banks as well. In the age of mostly free accounts, why not? I also enjoy chasing bank bonuses.

 

To me, Chase is the most convenient to use overall due to their user experience, real time transfers to other banks, and just various other little stuff. It adds up!
 

It’s also annoying/difficult to add a joint owner to new bank accounts. I sometimes worry that if something happens to me, my spouse will be completely lost with our finances because I do all of it. That’s another reason why I stay at Chase because my partner knows where it is and that it’s our main account. 
 

I want to use another bank as my primary one, but that requires a lot of work and putting trust into another place. I just can’t bring myself to use an online bank without branches. I was using DCU and Alliant CU for several years before Chase and they were both pretty good.

Edited by RehabbingANDBlabbing
Link to comment
Share on other sites

This banking practice should be illegal IMHO.  HOW the customer earns their money in a legal industry should be none of the bank's business.  Ending a relationship because a customer is funneling their illegally attained funds through the bank is one thing but using their own moral judgment on customers is wrong.  The ONLY reason these porn stars told their "employer" who they banked with was so their funds could bed ACH transferred.  I have never heard any athlete, celebrity or porn star bragging about who they bank with.  The only ones who do discuss a particular financial service are being paid to do so which is an entirely different scenario.  I could see CHASE not hiring porn actors for an ad campaign "all the big porn stars bank here so should you!"  As long as the funds going through the account are from a legal source and the customer meets the other banking criteria for an account their moral disagreement with the source should not be allowed.  

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share




  • Member Statistics

    • Total Members
      184991
    • Most Online
      2046

    Newest Member
    jevans217
    Joined
×
×
  • Create New...

Important Information

Guidelines